Taikang Asset Management Hong Kong Co Ltd Has $70.90 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Taikang Asset Management Hong Kong Co Ltd decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the fourth quarter, Holdings Channel reports. The fund owned 175,568 shares of the electric vehicle producer’s stock after selling 12,950 shares during the period. Tesla comprises approximately 10.4% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Tesla were worth $70,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TSLA. Dudley Capital Management LLC raised its holdings in Tesla by 7.7% during the fourth quarter. Dudley Capital Management LLC now owns 8,445 shares of the electric vehicle producer’s stock valued at $3,410,000 after acquiring an additional 606 shares during the period. CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter valued at approximately $38,000. Grantvest Financial Group LLC bought a new stake in shares of Tesla during the fourth quarter valued at approximately $512,000. Prudential Financial Inc. increased its holdings in Tesla by 0.5% in the 4th quarter. Prudential Financial Inc. now owns 2,637,631 shares of the electric vehicle producer’s stock valued at $1,065,181,000 after acquiring an additional 13,001 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC bought a new position in shares of Tesla during the 4th quarter valued at about $773,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 11.9 %

TSLA stock opened at $278.39 on Tuesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm’s fifty day moving average is $332.69 and its 200 day moving average is $321.49. The firm has a market cap of $895.45 billion, a PE ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research reports. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Barclays boosted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Benchmark began coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $318.93.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.